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This answer was rated:

To get tax advice, am I better relying on a Certified Financial

Planner or on the CPA...
To get tax advice, am I better relying on a Certified Financial Planner or on the CPA who ordinarily files the taxes. Or is someone else better qualified.
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Answered in 5 minutes by:
10/27/2013
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16,592
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
Verified

Megan C :

Thanks for your question, and thanks for using JustAnswer.com

Megan C :

How are you today?

Megan C :

You would be better off going with the CPA that typically files the taxes.

Megan C :

A Certified Financial Planner cannot practice in front of the IRS and is not a tax professional. A CPA, enrolled agent, or tax attorney are the professionals qualified to give tax advice.

Megan C :

Do you have any further questions?

Customer:

Is a CPA automatically a Tax attorney or is a tax attorney obliged to be a CPA?

Megan C :

No, a CPA does not have to be a tax attorney

Megan C :

There are attorneys who are also CPAs

Megan C :

But there are CPAs that are not attorneys

Megan C :

and Attorney that are not CPAs

Customer:

What is an "enrolled agent"?

Megan C :

An enrolled agent is someone who has passed a test issued by the IRS and is authorized to represent taxpayers before the IRS

Customer:

It sounds like the optimum choice is a CPA who is also an enrolled agent?

Megan C :

There aren't many CPAs that are also enrolled agents.

Megan C :

The enrolled agent exam is for those who do not want to be CPAs

Megan C :

The IRS automatically recognizes CPAs and attorneys - if you are a CPA there's no reason to take the EA exam.

Customer:

"A Certified Financial Planner cannot practice in front of the IRS and is not a tax professional. " I think the issue of practicing in front of the IRS is separate from giving good tax planing advice. No?

Megan C :

They could give tax planning advice, but I still think a CPA is more qualified.

Customer:

Qualified or knowledgeable?

Megan C :

I'm not saying that there aren't CFPs out there who can give tax advice, I'm just speaking broadly typically a tax professional is a CPA, EA, or tax attorney

Customer:

OK. Thank you very much

Megan C :

You're welcome. Is there anything else that I can assist you with today?

Megan C :

If you have a CFP you use for your personal finance needs, they may be able to give good tax planning advice because they understand your whole situation

Customer:

A start is being made in the evaluation of doctors and other medical specialist. Are there "rating agencies" for accountants, lawyers etc.?

Megan C :

I do not know of any rating agencies for tax professionals

Customer:

Thank you again. bye.

Megan C :

You're welcome. If you would, please take a moment to rate my response as "excellent" so that I may receive credit for assisting you today

Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16,592
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Thanks for your positive rating. Please come back and visit me any time you have a tax, finance, or social security question that needs answered. It was a pleasure working with you today.
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Megan C
Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16,592
16,592 Satisfied Customers
Experience: Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

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